BIO Supports Bipartisan Congressional Trade Priorities Act of 2014

January 13, 2014 05:03 PM Eastern Standard Time

WASHINGTON--(BUSINESS WIRE)--Today, the Biotechnology Industry Organization (BIO) expresses strong
support for the “Bipartisan Congressional Trade Priorities Act of 2014”,
which was issued by a bipartisan group of leaders from the Senate
Finance and House Ways and Means Committee last week. The bill outlines
Congressional objectives for trade agreements, and lays out the process
for Congressional approval of agreements negotiated by the
Administration.

The following statement can be attributed to BIO’s President and CEO,
Jim Greenwood:

“This legislation would help advance the global goals of our members
significantly by ensuring that trade agreements reflect a high level of
intellectual property rights modeled on U.S. laws, strengthening the
transparency and accountability of drug reimbursement regimes, and
removing unjustified barriers to agricultural biotechnology trade.

“America’s innovative biotechnology industry, which includes hundreds of
small companies, is engaged in the business of researching and
developing innovative new medicines and treatments. Our goal is to
ensure that the U.S. biotechnology industry remains the strongest and
most advanced in the world.

“Biotechnology has the potential to be one of the cornerstones of U.S.
global competitiveness in the 21st century if U.S. trade
agreements ensure IP rights and fair play by our trading partners.
Hundreds of thousands of new jobs will depend on this.

“Fortunately, Congressional leaders have recognized this, and we believe
this bill advances these goals, and we call for its swift enactment.

“We look forward to working with the Congress to enact this legislation,
and just as importantly, to ensuring that trade agreements negotiated by
the Administration, such as the TPP and TTIP faithfully reflect these
standards.”

About BIO

BIO is the world's largest trade association representing biotechnology
companies, academic institutions, state biotechnology centers and
related organizations across the United States and in more than 30 other
nations. BIO members are involved in the research and development of
innovative healthcare, agricultural, industrial and environmental
biotechnology products. BIO also produces the BIO
International Convention, the world’s largest gathering of the
biotechnology industry, along with industry-leading investor and
partnering meetings held around the world. BIOtechNOW
is BIO's blog chronicling “innovations transforming our world” and the
BIO Newsletter is the organization’s bi-weekly email newsletter.” Subscribe
to the BIO Newsletter.